2007-01-24 03:28:50 · 15 answers · asked by blueg0at 1 in Business & Finance ➔ Taxes ➔ United States
You do NOT pay taxes on the basis of information reported on your pay stub. You have to wait for your w-2. Having said that, if you were paid in 2007 for work done in 2006, that gets reported on 2007 taxes, not 2006 taxes.
2007-01-24 04:40:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You pay on what's on your W-2. A check dated in 2007 will be included on your 2007 W-2, not 2006.
2007-01-24 03:53:09 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
When you file your income taxes is it for the year that you actually received the money, and not the year that you earned the money. So in your case you worked last year but you did not receive the pay until this year. The check that you received on 1/05/07 that money will be reported within your 2007 earnings.
2007-01-24 03:35:33 · answer #3 · answered by D S 4 · 0⤊ 0⤋
This paystub belongs to 07, but don't go by the paystubs; file according to your company's W-2. If you think there is a discrepancy between your paystubs and your W-2, approach your company's payroll department for an explanation or correction.
2007-01-24 03:48:41 · answer #4 · answered by Marjory K 1 · 0⤊ 0⤋
It's considered 2007 income because it was recieved in 2007. Wait for your 2006 W-2 to file your tax return.
2007-01-24 03:40:42 · answer #5 · answered by aku_aku78 2 · 0⤊ 0⤋
Any pay for hours worked in 2006 go on this year's taxes. And pay for hours worked in 2007 go on next year's taxes.
You will to include the amount of income you earned for all of 2006, including the last few days, so make sure this check stub includes those days. If it also includes hours from 2007, subtract those off. It's better to wait for your W-2.
2007-01-24 03:33:02 · answer #6 · answered by Phoenix, Wise Guru 7 · 0⤊ 1⤋
Once you have your annual W-2, there is no need to retain the pay stubs for that year. You should keep your W-2's (and tax returns) for ten years. That is the longest of any statute of limitations (SoL) for the IRS to contest your tax returns. Generally, the IRS has three years to assess tax on a tax return, but the SoL becomes six years if you understate gross income by more than 25 percent. An exception to the three/six year statute of limitation is if you filed a fraudulent or false tax returns with the intent to evade taxes.
2016-05-24 04:18:59 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Only the money you were PAID in 2006 goes to the 2006 taxes.
2007-01-24 03:33:41 · answer #8 · answered by ♥gingeylynn 3 · 1⤊ 0⤋
you shouldnt need to worry about the paystub. Just the W-2 . ...that will give your statement of work for the last year
2007-01-24 03:32:50 · answer #9 · answered by Anonymous · 1⤊ 0⤋
2007 is when you file that one.
2007-01-24 03:37:29 · answer #10 · answered by Rain32 4 · 0⤊ 0⤋